Successful FINRA Arbitration

Our very own Michael Bessette, Managing Attorney at HLBS Law had great success in his FINRA arbitration case that went on for three and a half years. Bessette’s client was seeking expungement in 2020 over customer dispute information. The client needed these claims removed from the CRD records in order to continue their work with a clean record. Once the case made its way through nearly the entire process of FINRA arbitration, awaiting a decision, the case was denied forum by FINRA.

Bessette and team were able to appeal to the SEC with the argument: it was unlawful for FINRA to remove the case at this stage. The SEC agreed with the argument made by Bessette and the case was reopened in July of 2023. Unfortunately, another delay had to do with the original arbitrator passing away. It should be noted, this arbitrator was an incredible arbitrator, and she will be missed. A new arbitrator was assigned and a new hearing was held in January 2024.

After considering pleadings, testimony, and evidence, the arbitrator was able to confirm that the customer statements were “erroneous” and the claims and allegations against the client were “false”. While this is a rare case taking a long time to resolve, HLBS Law will not stop until our clients get their day in arbitration.

Call our attorneys at HLBS Law if you need of an attorney for your expungement case or any other legal matter related to FINRA.